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From the legal perspective, the shareholders still own TSMC (by definition) and therefore still own the fabs, same as before, and the shareholders are spread ou

• neltnerb 5y ago
  Under which legal system? I thought that China was generally able to influence who owns domestic companies pretty much at a whim by nationalizing them, and that chip manufacturing seems like something that many countries might consider nationalizing based on how expensive they are and how critical they are. Although it seems convoluted enough that if it's not truly critical things get left alone. But chip fabs are probably critical enough that they won't get left alone.
• encoderer 5y ago
  But non-Chinese can’t own a Chinese company. All the Chinese companies on American stock markets are basically just shell companies with a “profit sharing agreement” with the underlying Chinese controlled asset. That’s why this is an interesting question to me. It doesn’t feel like we can trust the CCP to maintain the status quo any longer.
  • davedx 5y ago
    It's not quite that simple, A-shares are only for mainland investors but H-shares (listed on HK exchange) are available to trade by anyone. US based ADR's have received a lot of attention recently but they're not the only channel for foreign investment in China. BlackRock is also running a mutual fund of mainland equities.